@Lesleigh S.Depends on your current loan situation, but one of the more common ways to do this is to transfer the property into your personal name if you plan to refinance. 

You’ll have a lot better results with a purpose built property than trying to split a house and expect guests to share common space with someone else.

You know what's even more common today?

@Larry Fullard You strategy is certainly one common way to use a HELOC.

Is this more of a tenancy in common situation?

It's more common when you've got a 1031 in process than it is when you're selling. 

Common contingencies are inspection, financing and appraisal.

Hey all, my friend and I are interested in the process of buying a residential duplex or condo and converting it into a Tenants-in-Common property.

In my area refuse and sewer are the most common, but I have seen water and electric provided by the government as well.

But, I hear it’s common that they will name the owner(s) of the LLC as well — the “name everybody” on the suit principal.There is lots of ambiguity given the talk on how easily the corporate veils are pierced (which sounds likely as most people don’t seem to protect it well).Good luck.